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Financial Statement Training

Financial Statements: Financial Statements Analysis

Financial Statements: Financial Statements Analysis offers the student an overview of financial statements, budgets, and ratio analysis.

The program details how to create a balance sheet and income statement, the purpose of these financial statements, the role of budgeting in accounting, how to combat budgeting variances, and the different methods of analyzing financial statements.

Financial Statement Training on CD-ROM Course teaches you to

• Prepare a balance sheet.
• Prepare an income statement.
• Identify reasons budgets should be used.
• Identify steps to correcting variances.
• Calculate a company's financial ratios.
• Interpret a company's financial ratios.

Audience: Managers or employees interested in learning more about the importance of financial statements to daily business processes

Total Learning Time: 2 to 4 hours on interactive CD-ROM

Course Contents

Unit 1: Financial Statement Fundamentals
0.5 - 2 hours

• Identify the components of a balance sheet.
• Prepare a balance sheet.
• Select the components of an income statement.
• Choose the types of revenues reported on an income statement.
• Identify types of expenses reported on a income statement.
• Prepare an income statement.
• Simulation Overview:
• In this simulation, you will practice your skills in preparing income statements and balance sheets by interacting with these two types of financial statements. Your goal is to identify and place the various elements of these statements in the correct location on the documents.

Unit 2: Financial Statement Projections
0.5 - 1 hour

• Identify reasons budgets should be used.
• Select the types of budgets.
• Identify the steps for preparing a budget.
• Identify how pro forma financial statements are used.
• Select the types of budgeting variances.
• Identify steps to correct variances.
• Simulation Overview:
• In this simulation, you will meet with Paul White, a Budget Accountant in Icon's New York Financial Services Division, to discuss budgets, pro forma financial statements, and budgeting variances. Paul will ask you a series of questions regarding what to do when you prepare a budget, how pro forma statements are used, and the steps to take when correcting budgeting variances. Your goal is to demonstrate that you have the necessary knowledge and skills to make financial projections.

Unit 3: Financial Statement Analysis
1 hour

• Identify the purpose of horizontal analysis.
• Evaluate a company's performance using horizontal analysis.
• Evaluate a company's performance using vertical analysis.
• Identify types of financial ratios.
• Calculate a company's financial ratios.
• Interpret a company's financial ratios.
• Simulation Overview:
• In this simulation, you will meet with Deborah Cowan, the Senior Budget Analyst in Icon's New York Financial Services Division, to discuss the internal and external comparative analyses of financial statements. She will ask you questions about the horizontal and vertical analyses and ask you to evaluate a company's performance using those analyses. She will also ask you to calculate and interpret a company's financial ratios. Your goal is to demonstrate to Deborah that you understand and can use these analyses.

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